Liam: Maggie, I’ve heard about variable annuities but I’m not sure what they are. Can you explain?

Maggie: Sure thing, Liam! A variable annuity allows you to invest in a range of mutual funds, and the returns on your investment can vary based on the performance of these funds.

Liam: So, it’s not guaranteed income?

Maggie: Correct. The income you receive can fluctuate depending on how well your chosen investments perform. This means there’s potential for higher returns, but also more risk compared to fixed annuities.

Liam: What are the benefits then?

Maggie: The main benefit is the potential for growth, which can help your income keep pace with inflation. Plus, any investment gains are tax-deferred until you start making withdrawals. If you’re considering this, I can help you understand the risks and benefits in more detail. Let’s set up a time to go over it.

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